Sinad Holding Company announces the latest developments for a lawsuit filed against the mediator for the purchase of the land north of Riyadh, demanding that he return the amount of 5,239,441 riyals to the company as a result of canceling the land deed.
| Element List | Explanation |
|---|---|
| Introduction | In reference to the company's announcement published on the Tadawul website on 29-11-1444 H, corresponding to 18-06-2023 AD, regarding the latest developments in the lawsuit filed against the mediator in the General Court in Riyadh against the mediator (the defendant) demanding to return the balance paid to him as mediator for the purchased of land north of Riyadh amounted of 5,239,441 riyals, due to the cancellation of the land deed.
The company announces that the mediator has paid the claimed amount of 5,239,441 riyals to the company in compliance with the ruling issued in favor of the company. |
| Previous Announcement | Sinad Holding Company announces the latest developments for a lawsuit filed against the mediator for the purchase of the land north of Riyadh, demanding that he return the amount of 5,239,441 riyals to the company as a result of canceling the land deed. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-06-18 Corresponding to 1444-11-29 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The company announces that the mediator has paid the claimed amount of 5,239,441 riyals to the company in compliance with the ruling issued in favor of the company. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Delay consequences on the Company’s financial results | Not applicable |
| Additional Information | The positive financial impact of collecting this claim will appear in the annual consolidated financial statements for the year 2024. |
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